Fuel Rates Revised
Here are 5 things to know about petrol prices, diesel rates today: 1. Fuel prices in Delhi are the cheapest in all metros and most state capitals due to lower sales tax or VAT (Value Added Tax). Delhi charges a VAT of 27 per cent on petrol and 17.24 per cent on diesel. Mumbai has the highest VAT of 39.12 per cent on petrol. 2. State-owned oil firms had in mid-June last year dumped 15-year practice of revising rates on 1st and 16th of every month in favour of daily price revisions. The sate-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum have been revising fuel prices with effect from 6 am on a daily basis, since then. 3. Petrol price had touched an all-time high of R s. 78.43 a litre on May 29 and had since receded. On that day, the diesel price had touched an all-time high of R s. 69.30. 4. According to government officials, the crude oil import bill is likely to jump by about $26 billion in 2018-19 as rupee dropping to a record low h...